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closed-end investment company

[ klohzd-end in-vest-muhnt kuhm-puh-nee ]
/ ˈkloʊzd ɛnd ɪnˈvɛst mənt ˌkʌm pə ni /
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noun
an investment company that issues its shares in large blocks at infrequent intervals and is not obligated to redeem or repurchase them.
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

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